Today the most important and expected event in the eurozone will be a statement on interest rate changes by the European Central Bank, regading short-term interest rates and deposit rates - this will occur at 14.45 (GMT +3). The previous time this kind of data was published was on July 20.
The deposit rate was then maintained at the previous level of -0.40%, and this time the forecast is that it would not change. The ECB interest rate decision is also predicted to be unchanged at 0.00%. Still, Germany is trying to put pressure on the ECB to raise interest rates.
After the announcement of the minimum interest rate at 15.30 (GMT +3), a monthly press conference of the ECB will be held, which discusses information on the most important factors affecting the economy, including the interest rate.
When the news data is released, if the indicators are higher than expected they will be considered as a positive direction for the EUR. Coversely, if the data is somewhat disappointing, it would indicate a negative market for the EUR. This news may well determine the further direction of the EUR/USD pair.
At the same time, 15.30 (GMT +3), in the US there will also be a number of news related to the level of unemployment and productivity outside agriculture. At 18.00 (GMT +3) the United States will announce the level of crude oil stocks, which will also have a strong impact on the market.
